Saudi Arabia moves to restore its vital East-West oil pipeline, with the kingdom reportedly seeking to return it to half capacity within days, as Houthi attacks add pressure to Saudi energy flows. Saudi Arabia says the Houthis targeted Mecca and warns of a “red line,” while the Houthis say they will avoid commercial vessels except those linked to Saudi Arabia. Oil holds its decline as markets assess the potential pipeline restart.
The Federal Reserve raises interest rates to curb inflation, with Kevin Warsh saying he will not prejudge future decisions. Markets digest the hike as Asian stocks fluctuate, global bond yields recover and attention turns to the Bank of Japan’s anticipated decision Friday. The yen trades around 156 after three days of weakening, while bond markets signal growing confidence in Warsh’s credibility. Chip stocks remain resilient following the Fed decision.
Trump says the Iran war will end “very soon” and is expected to discuss the conflict with Gulf leaders. The House passes a bill allowing tariffs on buyers of Russian oil, while Trump also threatens potential EU tariffs over Canada’s invitation and plans an AI executive meeting during Xi’s visit. Apple’s Tim Cook and OpenAI’s CEO are set to attend a Trump-Xi dinner.
AI safety remains in focus as Microsoft’s AI chief warns that human-like models carry risks, OpenAI reports new AI safety incidents and sets out a disclosure plan, and a House panel advances an AI bill aimed at strengthening US competition with China.
Goldman Sachs flags softer fixed-income trading and higher costs, while Turkish stocks slump after a fund default raises investor concerns.
In the Gulf, Abu Dhabi wealth fund L’imad is considering a stake in Atlas Air Worldwide, which could be valued at $10 billion or more. Nigeria is expected to resume cutting interest rates, while Dangote plans dividends of up to 50% of profit. Safaricom’s stake-sale ruling threatens project plans.
The US imposes visa restrictions on some South Africans amid accusations of discrimination against Afrikaners and other minorities, claims South Africa says have been mischaracterized. Trump has also offered Afrikaners refugee status.
In corporate news, Todd Boehly sells part of his Chelsea stake to Clearlake. Guests includes Keith Patton, Columbia Threadneedle Investments Global Rates & Unconstrained Fixed Income Head and Megan Sutcliffe, Sibylline Principal Analyst for Middle East and Africa.
Horizons Middle East & Africa is your daily spotlight on one of the world’s fastest-growing regions. Live from Dubai, we bring you the latest global markets and analysis, plus news-making interviews, with a special focus on MEA. All that and more, as you head to the office in the Gulf, pause for lunch in Hong Kong, or start your day in London or Johannesburg.
Chapters:
00:00:00 – Introduction
00:05:13 – Keith Patton, Columbia Threadneedle Investments Global Rates & Unconstrained Fixed Income Head
00:14:03 – Oil Holds Drop as Saudis Move to Restore Vital Pipeline
00:19:03 – Apple’s Cook, OpenAI CEO to Attend Trump-Xi Dinner
00:28:03 – Megan Sutcliffe, Sibylline Principal Analyst for Middle East and Africa
00:35:20 – Abu Dhabi’s L’imad Eyes Stake in Air Cargo Business
00:40:10 – US Slaps Visa Restrictions on South Africans
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